Introducing $PSTAKE
PStake Finance has introduced their $PSTAKE’s governance token.
- $PSTAKE is an ERC-20 token that will primarily be used for the governance of the pSTAKE protocol.
- To align interests of the users of pSTAKE and the long term growth of the protocol, $PSTAKE token holders will also receive a portion of the protocol fees once governance staking goes live
- $PSTAKE, in addition to being the governance token of the protocol, will also align incentives of its various stakeholders
- $PSTAKE will accrue value with an increase in the economic activity of the protocol.
$PSTAKE is an ERC-20 token that provides its holders with a two fold benefit, including:
- Voting rights
- Direct benefit from the economic activity in the pSTAKE ecosystem via fee sharing
$PSTAKE is the governance and fee sharing token of the pSTAKE protocol. $PSTAKE holders can participate in the protocol’s governance to ensure pSTAKE’s long term success while receiving a share of the fees generated by the application.
Currently, pSTAKE issues 1:1 pegged ERC-20 liquid staking representative tokens on the Ethereum network, with a long-term aim of building a multi-chain protocol that will enable liquid staking across multiple networks including the Persistence Core-1 chain.
About pSTAKE
pSTAKE is a liquid staking solution that unlocks the potential of staked PoS assets (e.g. ATOM). PoS token holders can deposit their tokens on the pSTAKE application to mint 1:1 pegged ERC-20 wrapped unstaked tokens, which are represented as pTOKENs (e.g. pATOM) that can then be transferred to other wallets or smart contracts on the Ethereum network to generate additional yield.
INFO:
https://medium.com/pstakefinance/introducing-pstake-e4e6494169c7
